BREAKING: Nigerian Government Withdraws Case Against Binance Executive

The Nigerian government has officially dropped all charges of money laundering against Binance executive, Tigran Gambaryan, who had been on trial since April. The charges were withdrawn by a lawyer representing the Economic and Financial Crimes Commission (EFCC) during a hearing at the Federal High Court in Abuja.

This decision came unexpectedly, just two days before the previously scheduled court date of 25 October.

The prosecuting lawyer stated that Gambaryan, a U.S. citizen, was simply an employee of Binance and was not responsible for the company’s broader financial decisions. Gambaryan’s defense counsel, Mark Mordi (SAN), agreed, noting that his client had no involvement in those decisions.

This development follows months of diplomatic discussions between Nigeria and the U.S. regarding Gambaryan’s case. Some U.S. lawmakers had also campaigned for his release, citing concerns about his prolonged detention. Gambaryan had been denied bail twice, with the court ruling that he posed a flight risk.

The charges against Gambaryan, which involved allegations of laundering $34.4 million and currency speculation, have now been dropped, effectively ending the case. He had been held at Kuje Correctional Centre since his arraignment in April.

While the charges have been dropped, Binance still faces separate tax evasion allegations in a different case before another Federal High Court in Abuja.

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